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And to top it off the banks who were bailed out with TARP money and QE will be fined 25 billion in penalties. Now where do you thing that money will come from? The very money handed to them by our government in the first place. So after garnering a little interest on it off the taxpayers the money changes hands right back to the government. They are all happy and Joe Blow who got raped and tossed out onto the street has no standing to sue. Unbelievable.
"NEW YORK (Reuters) - State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
A coalition of all 50 states' attorneys general has been negotiating settlements with five of the biggest U.S. banks that would include payment of up to $25 billion in penalties and commitments to follow new rules. In exchange, the banks would get immunity from civil lawsuits by the states, as well as similar guarantees by the Justice Department and Department of Housing and Urban Development, which have participated in the talks.
State and federal officials declined to say if any form of immunity from criminal prosecution also is under discussion. The banks involved in the talks are Bank of America, Wells Fargo, CitiGroup, JPMorgan Chase and Ally Financial."
States negotiating immunity for banks over foreclosures - Yahoo! News (http://news.yahoo.com/states-negotiating-immunity-banks-over-foreclosures-222406310.html - broken link)
At least during the S&L debacle people were convicted of their wrong doings and went to jail.
Wachovia was found guilty of laundering billions in mexican drug cartel money and fined I think 100 million. Nobody even saw a day in court I don't believe. Then Wells bought em up and poof they're gone.
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